Invesco Real Estate has acquired two residential assets in the affluent Ballerup sub-market of Greater Copenhagen on behalf of a European PRS mandate from a large German institutional investor. The deal has been acquired in cooperation with Copenhagen-based RUBIK Properties, a leading real estate operating partner in Denmark.
The two high-quality, brand-new properties have been sold by the tier-one Danish developer FB Gruppen and comprise a total of 14,901m2 divided into 186 units. One of the assets was completed in June 2024 while the second was completed in December 2024. The first has been sold with 100% occupancy.
Both buildings have green roofs with solar panels and are expected to achieve DGNB Gold Certification and have received an EPC ‘A2020’ rating, the newest and highest rating in the Danish market. Among other sustainability elements, smart meters have been installed in order to collect consumption data while energy will be supplied through efficient central district heating.
Rob Johnston, Managing Director, Head of Investments, UK & Nordics, Invesco Real Estate, said: “High-quality residential assets in Denmark continue to be highly sought after, and we’re delighted to have been able to expand our exposure to one of our most favoured European PRS markets – Greater Copenhagen. With the right assets, the local sector in Copenhagen can offer high risk-adjusted returns in a market trading at attractive yields compared to other major European cities.”
Jacob Smergel-Krog, founder & CEO, from RUBIK Properties said: “We are delighted to collaborate once again with the team at Invesco Real Estate to support their acquisition of these two residential projects in Denmark. Residential real estate remains a compelling asset class, offering strong risk-adjusted. Our priority continues to be on tenant-focused properties and prime locations, where we see the greatest demand.”
“We are pleased once again to do business with both Invesco Real Estate and RUBIK properties. The negotiation process exploited strong synergies from our previous transactions and we are always very happy when strong and professional partners express interest in other projects in our portfolio,” said Hans-Bo Hyldig, CEO at FB Gruppen.
Image source - Invesco.
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